Expert: Karyn Foley - 4/17/2009

Question
I am in the process of purchasing a home.  The seller advertised the furnace, water heater, and AC to be new in 2004.  At inspection I noticed that the AC unit looked much older.  I made multiple requests for verification of the units age to the seller.  Finally, the seller found the paperwork she used to put together her ad and discovered that the paper on the AC was an estimate and that the unit was never actually replaced.  So, the unit in place is actually from 1985.  The age of the furnace and AC were key factors in what I was willing to offer.  Had I known the AC was that old, I would have offered less.  What should/can be done in this situation?

Answer
Dear Nathan:  YOu should consider yourself fortunate that you learned about this prior to ownership.  At this point, you cannot force her to replace anything, all you can do is to negotiate at a lesser price.  I am questioning the fact that you had an inspection prior to purchase; that is not usually done until after a contract is signed, and you enter into the contingency period which normally includes all the inspections you wish to have.  I applaud your expertise in discovering the discrepancy yourself, but please take my advice and also hire a professional home inspector during the contingency period.  They can be invaluable.  It may cost a few or several hundred dollars, depending on the size and cost of the property, but it can end up saving you money in the long run. Some people hire an inspector who can go through all of the home's systems and appliances.  Other hire individual specialists that can include a roofer, electrician, plumbers, and so forth.  Good luck to you with whatever it is you decide to do.  Please get back to me if you need my help in the future.  As a post script, most states have mandator disclosures forms that are signed by seller and buyer, and should be given to you during the contingency period.  This places an onus on the seller to be honest and accurate!  Karyn Foley